Less than 20 per cent of the wastewater discharged by households, and 60 per cent of industrial wastewater, is treated in India. This situation has to change, say SHISHAM PRIYADARSHINI and AMISH SHROFF.

All states will implement GST by July 2017. The Constitution Amendment Bill for Goods and Services Tax has been approved by the President of India post its approval in Parliament (Rajya Sabha on 3 August 2016 and Lok Sabha on 8 August 2016) and ratification by more than 50 per cent of state legislatures.

The establishment of a National Company Law Tribunal (NCLT) and its Appellate Tribunal (NCLAT) will provide for an efficient, timely and one stop-shop dispute resolution mechanism, preventing fragmentation of disputes relating to companies before multiple forums.

India is moving towards reviving the infrastructure sector by encouraging investments by private players and reinvigorating the sector through Public-Private Partnership (PPP). The government is also providing the much-needed push by increasing the budgetary allocation to Rs.2.21 lakh crore for key infrastructure areas, such as roads, railways and ports.

Banks and financial institutions in India are poised to leverage the benefits of technology, and mobile devices, to increase their presence in under-banked sectors in India, without needing brick and mortar structures.

India has remarkable potential of 14,500 km of navigable waterways. However, only 4,300 km comprising five waterways have been designated as National Waterways. Realising the exponential growth in this sector in the coming years, the government in the year 2016 has, under the National Waterways Act 2016, declared an additional 106 inland waterways which brings the total number of National Waterways to 111.

India, being one of the major developing economies, has seen significant growth in the infrastructure sector in the last few years. Such infrastructure projects usually require expertise and specialised resources in specific arenas within the project, mooting for the parties to enter into Engineering Procurement and Construction (EPC) contracts.

The one thing, which is commonly heard in the corridors of the financial world, is the looming concern as regards the huge NPA that banks are currently saddled with. Long drawn processes pertaining to insolvency has taken a toll on the credit realization in the country.

Competition Commission of India has ordered airlines´ to desist from indulging in anti-competitive practices and has imposed penalties on leading airlines. The moot question is whether this is a well-grounded move.